I thought you were bowing out if this discussion leaf. You just can't help yourself.



Wildwell wrote


yes you do, so do I.

I speculate that tomorrow is gonna be horrendous.

ps, smilies aren't working for me now:-(

Sorry but isn't that prediction like saying not much will happen with the markets tomorrow.

Not trying to be clever, smilies not working.

Edit: Errrr.....I meant the prediction below....

Prediction (remember where you heard it first):

The US oil and gasoline markets will open higher tomorrow.

At about 11:00AM ET, a wave of mysterious selling will hit the market (the plunge protection team/saudis will take over). By the end of the day, the market will have changed only marginally.

I wonder, do terrorists play the crude oil commodity futures market?

Well, someone was playing the futures market before 9/11.

You can see that yucky brown/black cloud on Sat imagery from today

link

well I personally think you are all bonkers...this is a local perturbation not global. Why would a lack of refined products in the UK suddenly make the US market freak out when they have normal product storage? Yes...there is always the panic thing that happens but the fundamentals here don't support a big build in price. In North America there was serious builds in all products last week, my guess is you will see panic buying and selling on Brent but by midday in New York everything will be back to normal. Mind you most of the traders have the education and IQ of a clam so anything might happen.

Well, New Orleans ended.

You reasoning is flawed. Fuel supplies in Britain are tight and the unexpected loss of a large batch of it is meaningful.
By your reasoning, 320 million litres are bigger if they come from a large depot than a small one.

It will pursue an opportunity to profit.

On the bbc website its says 20 tanks of petrol each with a capacity of 3 millions gallons. So thats 60 million gallons of fuel assuming each tank was full.

Any evidence to suggest how tight the UK fuel supply is and that this loss is significant? My understanding is that the UK has significantly more than one days stocks on hand and the daily rate of extraction/product production is completely unaffected.

The M1 reopened around 2200 GMT after being closed for 12 hours.

The fire is petrol and parafin (translated: gasolene and kerosene), highly refined product of low molecular weight. When it burns inefficiently and partially there is a lot of soot. This is finely divided particles of carbon. When it rains it will wash out and be pretty harmless. It looks worse than it really is. Rather a waste but pretty insignificant in the grand scheme of things. Several of the storage tanks are still intact so not all the potential 60 million gallons are lost. All that fuel would have been burnt in cars and planes soon anyway. The firefighters have started using foam at first light this morning and hope to have the fire controlled by lunchtime.

Not at all as bad travelling round the area, took me about 20 mins longer to get to work and was quite a nice drive through the country actually, I saw the fire as well, its still huge.

A lot of petrol stations low on fuel but the queues don't look that long anymore.